Property investors are sinking big money into average sections and lower-quality houses as prices and demand escalate.
Tuesday, September 9th 2003, 4:00AM
by The Landlord
Auctions across the country are packed, tender offers are exceeding owners' expectations and mediocre properties are doubling or trebling in price.
These features of a booming residential property market are accompanied by rising rents in most areas and increasing volumes of homes changing hands amid continuing low unemployment and low interest rates.
Competition has boosted prices to the point where some first-home buyers and investors are being squeezed out of both the residential and commercial sectors.
